Hong Kong to Outline Ambition to Become Top Virtual Asset Hub

Screens display the price of Bitcoin in U.S. dollars at a CoinUnited cryptocurrency exchange in Hong Kong, China, on Friday, March 4, 2022.Photo: Bloomberg

(Bloomberg) — Hong Kong wants to become an international center for virtual assets as the city seeks to bolster its status as a global financial hub following the disruptions caused by the pandemic.

The government will announce its framework for developing virtual assets, such as cryptocurrencies and non-fungible tokens, during Hong Kong’s Fintech Week from Oct. 31 to Nov. 4, Financial Secretary Paul Chan said in a blog post on Sunday. The policies will include a regulatory system and trial programs for the assets, Chan said.